Setting up companies for tax benefits
Hi all,
Looking for a little information about setting up Corporations in order to take advantage of tax breaks and decrease personal liability and risk involving a higher risk investment.
I was recently approached by a family friend regarding an investment oppurtunity. The deal is that I would be investing a lump sum of money with a group who will be selling a product using the little kiosks you see in the middle of the mall. My initial investment would cover much of the start-up costs involved. I would be making money based on the profit of the business, with the group I am investing in taking care of all marketing, sales and management of the kiosk.
Assuming I have done all my due diligence regarding the group I am investing in and the product they are selling, what other steps do I need to take so that I don't get screwed by taxes and limit some personal liability. I am wondering what type of entity I need to start, and what the nature of this entity would be.
Any help would be greatly appreciated.
-Echo
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